According to the Kerala Rich List published by Hurun Report, a media group based out of Shanghai, MA Yousuffali, chairman of Abu Dhabi-headquartered Emke Group, is the richest Malayali with a net worth of Rs 11,400 crore.

Ravi Pillai, chairman and CEO of Bahrain-based RP Group, came second with Rs 9,600 crore worth of assets.

Third in the list is Sunny Varkey, founder and executive chairman of Dubai-centered Gems Education, whose net worth is valued at Rs 9,000 crore.

Of the 18 richest Malayalis, six reside in Kerala, five in other parts of India while seven are abroad, with six of the latter based in West Asia.

Jewellery sector has the most number of millionaires in Kerala, led by T S Kalyanraman of Kalyan Jewellers with a net worth of Rs 7,100 crore, the report highlighted.

Among other sectors, real estate claimed three millionaires and technology another three.

While the real estate sector was led by Ravi Pillai, the technology sector was topped by S Gopalkrishnan, co-founder and executive vice chairman of Infosys with a net worth of Rs 8,800 crore.

Over the last one-year, the biggest increase in wealth was registered by M G Muthoot and family - 80% - on the back of a similar increase in stocks of their publicly TRADED Muthoot Finance.

Second biggest appreciation in wealth was recorded by M P Ramachandran, chairman and managing director of Jyothy Laboratories whose wealth was up 78% from last year to touch Rs 3,400 crore.